Sporting Clube Correlations

SCB Stock

EUR 15.30 0.00 0.00%

The current 90-days correlation between Sporting Clube de and Sporting Clube de is -0.06 (i.e., Good diversification). The correlation of Sporting Clube is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Sporting Clube Correlation With Market

Very poor diversification

The correlation between Sporting Clube de and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sporting Clube de and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Sporting Clube could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sporting Clube when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Sporting Clube - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Sporting Clube de to buy it.

Moving together with Sporting Stock

0.81	NVG	Navigator	Pair Corr
0.86	EDPR	EDP Renovaveis	Pair Corr
0.88	EDP	EDP Energias	Pair Corr
0.69	RENE	REN Redes Earnings Call Today	Pair Corr
0.76	NOS	NOS SGPS SA	Pair Corr
0.77	SLBEN	Benfica	Pair Corr
0.65	ALSMB	ALSMB	Pair Corr
0.66	IBS	Ibersol SGPS	Pair Corr
0.79	SEM	Semapa	Pair Corr
0.75	VAF	VAA Vista Alegre	Pair Corr

Related Correlations Analysis

	SCP	AJAX	EGL	SEM	0P0000JCDX	ESON	GALP	IBS	CDU
SCP		-0.07	-0.09	-0.12	-0.21	-0.11	-0.2	-0.19	0.0	SCP
AJAX	-0.07		-0.17	0.1	0.2	0.26	0.23	0.33	0.0	AJAX
EGL	-0.09	-0.17		0.37	0.18	-0.17	0.07	0.2	0.0	EGL
SEM	-0.12	0.1	0.37		0.81	0.1	0.46	0.7	0.0	SEM
0P0000JCDX	-0.21	0.2	0.18	0.81		0.4	0.73	0.89	0.0	0P0000JCDX
ESON	-0.11	0.26	-0.17	0.1	0.4		0.69	0.63	0.0	ESON
GALP	-0.2	0.23	0.07	0.46	0.73	0.69		0.8	0.0	GALP
IBS	-0.19	0.33	0.2	0.7	0.89	0.63	0.8		0.0	IBS
CDU	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		CDU
	SCP	AJAX	EGL	SEM	0P0000JCDX	ESON	GALP	IBS	CDU

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

IBS	+ 0.89	0P0000JCDX
0P0000JCDX	+ 0.81	SEM
IBS	+ 0.8	GALP
GALP	+ 0.73	0P0000JCDX
IBS	+ 0.7	SEM
GALP	+ 0.69	ESON

High negative correlations

0P0000JCDX	- 0.21	SCP
GALP	- 0.2	SCP
IBS	- 0.19	SCP
ESON	- 0.17	EGL
EGL	- 0.17	AJAX
SEM	- 0.12	SCP

Risk-Adjusted Indicators

There is a big difference between Sporting Stock performing well and Sporting Clube Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Sporting Clube's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SCP	1.18	(0.06)	0.00	(0.20)	0.00	0.00	3.06	(3.92)	9.08
AJAX	1.04	(0.04)	0.00	0.14	0.00	0.00	2.68	(1.58)	9.13
EGL	1.90	(0.01)	(0.01)	0.02	2.90	(1.72)	4.06	(3.53)	15.25
SEM	1.52	0.42	0.25	1.06	1.20	(1.99)	3.11	(2.34)	25.01
0P0000JCDX	0.06	0.01	(0.27)	(0.45)	0.00	(0.09)	0.14	(0.07)	0.28
ESON	2.11	(0.09)	0.00	(3.00)	0.00	0.00	8.33	(7.69)	24.25
GALP	1.46	0.15	0.03	(0.54)	2.99	(1.41)	3.02	(2.46)	15.91
IBS	0.65	0.11	0.05	(55.69)	0.93	(0.84)	1.90	(1.40)	7.74
CDU	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in Sporting Clube without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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